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Sakhalin-1 project participants to jointly respond to Rosneft’s action

Rosneft filed a lawsuit for $1.4 bln against five companies participating in the Sakhalin-1 project "for unfounded enrichment" in the period from 2015 to 2018

TOKYO, July 24. /TASS/. Participants in the Sakhalin-1 oil and gas development project will jointly respond to the action earlier filed by the Russian oil producer Rosneft, a representative of Sakhalin Oil and Gas Development Co. (Sodeco) told TASS on Tuesday.

"This is an action against all Sakhalin-1 consortium members. It is assumed that we will respond as a single consortium," the representative said. "An understanding exists in the consortium that we cannot disclose detailed information without a relevant authorization, and we will therefore refrain from further comments," Sodeco added.

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Rosneft filed a lawsuit for the sum of 89 bln rubles ($1.4 bln) against five companies participating in the Sakhalin-1 project "for unfounded enrichment" in the period from 2015 to 2018, according to the court’s statement made earlier.

The company claims the recovery of funds for "unfounded enrichment and interest for the use of third parties" money, accrued for the period from July 10, 2015 to May 31, 2018. The claim was filed against Sakhalinmorneftegaz-Shelf, RN-Astra, Exxon Neftegas Limited, Sakhalin Oil and Gas Development Co., Ltd. and Indian ONGC Videsh limited.

Sakhalin-1 is the first large-scale offshore project in Russia implemented under the PSA conditions (concluded in 1996). Rosneft holds a 20% share in the project, ExxonMobil - 30%, SODECO - 30%, and ONGC Videsh Ltd. - 20%. Sakhalin-1 includes three offshore fields: Chayvo, Odoptu and Arkutun-Dagi located in the northeastern shelf of Russia’s Sakhalin Island.

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